LOS ANGELES — Motorcar Parts of America (MPA) has signed a definitive purchase agreement to acquire certain assets of Automotive Importing Manufacturing, Inc. (AIM), a privately held company based in Rancho Cordova, Calif. Specifically, MPA will acquire AIM’s operation that produces new and remanufactured alternators and starters.
Automotive Importing Manufacturing supplies alternators and starters for imported and domestic passenger vehicles, light and heavy trucks and a variety of industrial and OE applications. Its products are sold under Talon, Xtreme and other brand names.
Pending completion of the acquisition by Motorcar Parts of America, AIM will cease its remanufacturing operation in Rancho Cordova, Calif., and Mexicali, Mexico. Its current management will retain ownership of AIM Parts.
"This acquisition will add to our customer base and provide product line expansion, including the addition of heavy duty truck business. We anticipate a seamless integration once the transaction is completed, with a commitment to enhanced customer service and synergies," said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc.
Terms of the deal were not disclosed. The transaction, subject to various conditions and approvals, is expected to close by May 16, 2008.
For more information about AIM, go to: www.aimpowerinmotion.com.
To learn more about MPA, visit: www.motorcarparts.com.
